McKnight’s reported in an opinion piece that appeared in medical news outlet STAT. Dr. Haider Warraich, M.D. admitted what everyone in the industry knows: “Private equity investment fundamentally changes nursing homes.” Dr. Warraich asserts that for-profit nursing homes place residents at higher risk of death and are a poor deal for elders overall. The lack of
Skilled Nursing News reported New York’s new law limiting nursing home profits. However, large chains manipulate financial documents to look unprofitable so this law will have little effect. The new rules attempt to exclude expenses to any related party transaction or compensation that exceeds fair market value. “Facilities have put profits over care for far
John Oliver takes on the nursing home industry on his weekly show “Last Week Tonight”.
Skilled Nursing News reported a new and surprising advocate for safe, quality care at nursing homes: Investment firms! They are demanding better care because it will better guarantee their investment. Here are the demands they made regarding staffing: Adhere to best practices of safe staffing levels. Ensure adequate staff organization, appropriate working hours and protection
For-profit Healthcare People always complain about universal health care as socialism. They assume a not for profit health care system would negatively affect the quality of care. However, that does not appear to be true. For example, federal data shows that for-profit facilities were 18% less effective with preventing COVID-19 infections than nonprofit or government-run
Ways and Means Committee The Ways and Means Committee had an incredible hearing about private equity ownership in the nursing home industry. The hearing, “Examining Private Equity’s Expanded Role in the U.S. Health Care System” included witnesses calling for transparency and regulatory oversight of the private-equity investors. New York University assistant finance professor Sabrina Howell testified
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